At that valuation, Uber is worth almost as much as Ford and General Motors combined. It will also have a valuation just above Goldman Sachs and be significantly larger than the electric-car maker Tesla.

It is almost five times as valuable as rival ride-hailing company Lyft. Uber, however, will have to rise significantly to eclipse the personal net worth of Amazon founder Jeff Bezos, which sits at $112 billion.

While Uber is huge, its valuation has dropped sharply from the $120 billion figure that was floated in October. Lyft’s rocky start has hung over Uber’s long-awaited New York Stock Exchange debut.

Demand for the Uber shares was robust, with all 180 million on offer accounted for within days of the beginning of its IPO road show, according to a report from Bloomberg, citing people familiar with the matter. The company raised $8.1 billion in through its IPO process.

Prominent investor Softbank will also realize a significant gain, having purchased a 16% stake back in early 2018. At Friday’s valuation, SoftBank’s holdings will be worth over $12 billion, up from its original investment of $8.4 billion.